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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The dollar loses its highest level in 6 months... Why did the dollar decline?

    Rocky
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    The dollar loses its highest level in 6 months... Why did the dollar decline? Empty The dollar loses its highest level in 6 months... Why did the dollar decline?

    Post by Rocky Mon 11 Sep 2023, 6:40 am

    The dollar loses its highest level in 6 months... Why did the dollar decline?

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    Economy News - Baghdad
    The US dollar fell in early European trading on Monday, retreating from its highest level in six months, while the Japanese yen rose amid comments by Bank of Japan Governor Kazuo Ueda that indicated a possible change in monetary policy.
    At exactly 12:00 Riyadh time, the US dollar index fell by 0.40% to 104.294 against a basket of foreign currencies, led by the euro. Down from a six-month high of 105.15 hit last week.
    Yen rises after Ueda hints at policy change
    A decline in the dollar index on Monday was a catalyst for sharp gains for the yen, with the JPY/USD pair falling 1.2% to 146.06, as Bank of Japan President Kazuo Ueda signaled a potential shift away from negative interest rates.
    This ultra-loose monetary policy has contributed significantly to the yen's decline to its lowest levels in 10 months against the dollar due to widening interest rate differentials.
    The Bank of Japan may have enough data by the end of the year to determine whether interest rates should remain negative, Ueda told a local newspaper, adding that the bank's 2% inflation target is imminent, allowing policymakers to begin considering tightening policy.
    ECB policy meeting looms
    Elsewhere, the EUR/USD currency pair rose 0.2% to 1.0724, up from a three-month low last week as traders prepare for Thursday's policy-setting meeting by the European Central Bank.
    There is a great deal of uncertainty about the ECB's interest rate decision as price pressures remain high while data shows economic activity has now slowed sharply.
    The central bank has raised interest rates at each of its past nine meetings and policymakers are now debating whether to raise the deposit rate again to 4% or pause.
    The GBP/USD pair rose 0.4% to 1.2518, also rebounding from a three-month low hit last week, with traders eagerly awaiting the release of July compensation data on Tuesday, which could see - reducing pressures. Inflationary wages.
    Traders are eagerly awaiting US inflation data
    Despite Monday's losses, the dollar remains near six-month highs, supported by the recent string of resilient economic data that has raised expectations of further interest rate hikes by the Federal Reserve.
    US consumer inflation data, released on Wednesday, as well as producer prices on Thursday, will also be carefully studied for further signals on monetary policy and the path of interest rates.
    Markets widely expect the Fed to keep interest rates unchanged at its meeting next week, but data showing inflation remains steady could point to another rise later in the year.
    “With activity data remaining strong, it appears that the market may lean more towards the idea of ​​another 'pause' - that is, the Fed not raising interest rates in September but raising interest rates again later in the year. This is clearly The situation pushes the idea of ​​an easing cycle by the Fed later and keeps the dollar stronger for longer.
    Chinese yuan rebounds from 16-year lows
    {{2111|CNY/USD}} fell 0.7% to 7.2920, with the yuan rebounding from a 16-year low hit on Friday after China's central bank signaled growing alarm over the currency's recent weakness with a guidance rate. My day is strong at the midpoint.
    Positive inflation data out of China over the weekend also helped the recovery, showing some improvement in Asia's largest economy.


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